Samsung, Foreseeing the 'Foldable Popularization,' Lowers the Price of 'Z Flip 5G' by 300,000 Won

[Asia Economy Reporter Joselgina] Samsung Electronics, which declared the 'foldable phone popularization' this year, has lowered the price of its clamshell-shaped form factor 'Galaxy Z Flip 5G' by about 300,000 KRW. This is the first price reduction since its release in the second half of last year. It is interpreted as a strategy to advance the popularization period by lowering the price entry barrier before strengthening the foldable lineup in earnest.

According to Samsung Electronics and the mobile telecommunications industry on the 5th, the price of the Samsung Galaxy Z Flip 5G was reduced to 1,349,700 KRW on the same day, just over five months after its launch. The initial price of the Galaxy Z Flip 5G was 1.65 million KRW, the same as the previous Galaxy Z Flip LTE model. This follows the same stepwise price reduction process as the first foldable phone LTE model, which was reduced to 1,342,000 KRW and then to 1,188,000 KRW about half a year after its release.

On the US Samsung Electronics website, the unlocked version of the Galaxy Z Flip 5G is currently being sold at $1,199, reduced by $250.

This price reduction is interpreted as part of the '2021 foldable phone popularization' strategy announced earlier this year by Samsung Electronics' Wireless Business Division head (President) Notae Moon. Since the release of new foldable models such as the Galaxy Z Flip successor is expected soon, it is explained as a move to reduce inventory in advance by gradually lowering the price of older models. Foldable phones priced between 1.5 to 2 million KRW have been considered relatively expensive, acting as a price barrier to entry.

This year, Samsung Electronics has announced plans to strengthen its foldable lineup with a 'two-track foldable' strategy based on the Z Fold and Flip. The Z Fold, which folds left and right like a book, will focus on large screens and enhance entertainment functionality, while the Z Flip will target millennials and female customers by emphasizing stylish design and price competitiveness. Samsung Electronics reaffirmed in its earnings conference call at the end of last month that it is "considering various form factors" and "will promote foldable popularization."

The new foldable phones, including the Galaxy Z Flip successor and Galaxy Z Fold3, are expected to be unveiled as early as this summer. Ross Young, CEO of market research firm DSCC, mentioned on his Twitter, "Panel shipments for (Galaxy Z Flip) could start in May," adding, "This means a launch in June or July." There are also speculations that an entry-level Galaxy Z Flip Lite may be released to lower the price barrier.

This content was produced with the assistance of AI translation services.